Tata Consultancy Services (TCS) a leading company in India’s IT Services has rolled out 100 percent variable pay for employees up to the C2 grade and equivalent grade as per an email by Milind Lakkad, the Chief Human Resource Officer of the company. For employees above the C2 grade, pay will be awarded as per business performance.
“A decision has been taken to pay 100% of the Quarterly Variable Allowance (QVA) for all employees up to C2 or equivalent grades covered under this plan” quoted the email by the senior employee.
An employee of TCS explained that C2 grade employee refers to employees who have completed 4 years in the company and aren’t relatively senior. The C3A grade is the mid to senior-level group under the TCS structure.
TCS has earlier released variable pay in the Q2 of FY 2022-23 for nearly 70% of their employees.
TCS has announced this decision despite the decline in headcount for the first time in 10 quarters. December 2022 quarter witnessed a fall of 2,197 employees.
TCS is an Indian multinational information technology company headquartered in Mumbai and is part of the Tata group. The company has operations in over 150 locations across 46 countries and employs more that 6,00,000 people.
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